After years of work in a business, it can be quite profitable to sell it. Being acquired by a larger company is something that many hope for. The sale can be complicated, however. There are Federal and North Dakota laws concerning mergers, acquisitions, negotiations and securities exchanges that must be followed.

How Do I Sell a Business?

Of course, there must be an interested buyer with an offer in order to sell a business. The job of purchase agents in Grand Forks is not only to acquire an offer, but they also lend advice about which offers should be considered. During this process, the financial records must be updated and prepared in strict accordance with North Dakota and Federal law. The reliability of these methods is crucial in determining the proper value for the rights you are selling. As an agreement for the purchase is reached, usually a formal contract will be written. It is important to review such documents before they are signed so that all aspects of the agreement are presented properly.

What Will I Give Up in the Business?

The sale of a business is simply the transfer of a right known as "control". The party with control of a business directs its operations and may use the business property as it sees fit. A party seeking to purchase a Grand Forks business may not be concerned with all aspects of the company. In fact, purchasers are usually interested in acquiring control as cheaply as possible, and this may allow other rights, including the right to future earnings, to be apportioned or even retained by the seller. The wide variety of concerns that buyers may have make the negotiations process particularly vital. It's important at the outset for each party to make plain their intentions and concerns.

How Can an Attorney Help?

Parties who want to sell businesses must meet the requirements of North Dakota law. Ensuring that the sale is proper is much simpler with the advice of a local lawyer practicing in Grand Forks.